From Longman Dictionary of Contemporary Englishincome taxˈincome tax noun [uncountable] PETtax paid on the money that you earn
Examples from the Corpus
income tax• Thus, there could be no Schedule D income tax charges.• His income tax liability is then calculated by referring to tax tables which are supplied by the Inland Revenue.• If the provisions of s213 can be satisfied, management would incur no income tax charge or capital gains tax charge.• And he never paid a dime of income tax on it.• Another 31 % came from business taxes, and 21 % from the personal income tax.• To put it another way, reducing income tax will increase people's capacity to afford more leisure.• This is a regressive income tax.• Married women are treated as dependents by the income tax system, whatever their actual economic resources and social situation.From Longman Business Dictionaryincome taxˈincome tax noun [countable, uncountable]TAX in Britain, a tax on money people earn, paid to the national government. In the US, a tax on the money people earn or on the profits companies make, paid to the national, state, or local governmentFlorida and Texas have no income tax, which is one reason that many people with substantial assets live there.He failed to report and pay income tax on his portion of this income. → see also separate entry for tax1 → corporate income tax → deferred income tax → federal income tax → individual income tax → local income tax → negative income tax → personal income tax → state income tax 